Lending to Mexicans?

J

joanC

Guest
Ensure you have complete security if you are inclined to lend to a Mexican.

This is a 3rd world country where contracts and promises to repay a loan are nothing more than a rat's petunia.

Back in the 90's we prepaid a lawyer to complete a real estate purchase. She converted the funds for her own purposes, so we had to pay again. Since then, we've sold a few cars, trucks and quads, but they stay with us until paid in full.

Mexican magnate's firm says it's too poor to pay US bondholders the tens of millions owed (msn.com)
 
Buffalo Marty

Buffalo Marty

Guest
After many years here & some difficult lessons learned, I have a golden rule about lending in Mexico:

When someone asks you: "Can you lend me?" what your ears should *hear* is "Can you give me?"

Only "lend" what you are prepared to never see again; since I adopted this policy I have never had an issue again.

BTW, this rule can serve you well anywhere, not just in Mexico.
 
R

richwi

Guest
Buffalo Marty said:
After many years here & some difficult lessons learned, I have a golden rule about lending in Mexico:

When someone asks you: "Can you lend me?" what your ears should *hear* is "Can you give me?"

Only "lend" what you are prepared to never see again; since I adopted this policy I have never had an issue again.

BTW, this rule can serve you well anywhere, not just in Mexico.
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We have followed that some rule for a long time. We only lend what we are willing to lose. A lot less stress that way.
 
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